India s FY21 fiscal deficit at 9.3% of GDP
Total receipts stood at Rs 16.89 lakh crore as against the revised estimate of Rs 16.01 lakh crore.
BusinessToday.In | May 31, 2021 | Updated 18:41 IST
Revenue receipts for the year stood at Rs 16.32 lakh crore, higher than the revised estimate of Rs 15.55 lakh crore.
India s fiscal deficit for financial year 2020-21 stood at 9.3 per cent of GDP as against Finance Ministry s revised estimate of 9.5 per cent of GDP, as per the data released by the Controller General of Accounts (CGA).
In absolute terms, fiscal deficit stood at Rs 18.21 lakh crore. Revenue deficit during FY21 stood at Rs 14.54 lakh crore, or 7.42 per cent of GDP, the data released on Monday showed.
Fiscal deficit for 2020-21 at 9.3% of GDP: Controller General of Accounts
Fiscal deficit for 2020-21 at 9.3% of GDP: Controller General of Accounts
Fiscal deficit for 2020-21 was at 9.3 per cent of the gross domestic product (GDP), lower than 9.5 per cent estimated by the Finance Ministry in the revised Budget estimates, according to the CGA data.
Unveiling the revenue-expenditure data of the Union government for 2020-21, the Controller General of Accounts (CGA) on Monday said that the revenue deficit at the end of the fiscal was 7.42 per cent.
In absolute terms, the fiscal deficit works out to be Rs 18,21,461 crore.
For this financial year, the government had initially pegged the fiscal deficit at Rs 7.96 lakh crore or 3.5 per cent of the GDP in the budget presented in February 2020.
At 9.3%, FY21 fiscal deficit down from RE of 9.5%
May 31, 2021
The Government managed to end the fiscal year 2020-21 with a fiscal deficit lower than the revised estimate as projected in the Budget, data presented by the Controller General of Accounts (CGA) revealed on Monday. This will give some relief to the bond market and interest rates in particular.
Fiscal deficit shows expenditure is higher than the revenue for the Government. Data shows fiscal deficit for FY21 touched a little over ₹18.21 lakh crore as against the revised estimate of over ₹18.48 lakh crore. In terms of percentage of GDP, the final number stands at 9.3 per cent as against 9.5 per cent as mentioned in the Budget.
India s fiscal deficit hits 66.8 per cent of revised forecast
During the April 2020 to January 2021 period, total receipts stood at Rs 12.83 lakh crore which is 80.1 per cent of the revised Budget target of Rs 16.01 lakh crore.
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The gap between the government’s revenue and expenditure (Fiscal deficit), in absolute terms, stood at Rs 12.34 lakh crore. (Express Illustrations) By Express News Service
NEW DELHI: Data released on Friday by the Controller General of Accounts (CGA) showed that, as of the end of January 2021, India’s fiscal deficit had breached 66.8 per cent of the revised budget estimates for the current financial year (2020-21).
Read more about Fiscal doves in India: right and wrong on Business Standard. The idea that fiscal prudence and welfare of the less well-off are mutually exclusive is misplaced